The iPhone 2.1 is out. It contains the following updates as listed by Apple:

- decrease in call set-up failures andcall drops
- significantly improve battery life for most users
- dramatically reduced time to backup to iTunes
- improve email reliability, notable fetching email from POP and Exchange accounts
- faster installation of 3rd party applications
- fixed bugs causing hangs and crashes if you have lots of 3rd party applications
- improved performance of text messaging
- faster loading and searching of contacts
- improved accuracy of the 3G signal strength display
- repeat alert up to two additional times for incoming text messages
- option to wipe data after ten failed passcode attempts
- Genius playlist creation

The 2.1 firmware is build 5F136 (weighing in at 237.8MB) and can be directly downloaded through iTunes. The new firmware also contains a number of security fixes including the well publicized passcode flaw.

Jailbreak for 2.1 is not avaliable yet.